Oldest bitcoin exchange gets shut down by US govt... then relaunches 2 months later under different name!
So 2 months ago, the bitcoin exchange BTCe was shut down by the US government, and the alleged founder arrested while holidaying in Greece. It was an anonymous exchange where users were not required to give their IDs to register, and the longest running bitcoin exchange. [Apparently it was run by Russian hackers, and primarily used for people who need anonymity for accessing online black markets].
Why should the US government have jurisdiction to shut down a site presumably in Russia? Good question, but the overreaching US govt is not the topic of this post.
When the site was shut down, the admins apparently released a statement saying they would relaunch and give people back their money. Nice idea, but come on, it's a bitcoin exchange run by anonymous Russian hackers. They will likely take the remaining money and run.
Then a week ago... the site relaunched! Well, it's under a different name (WEX) that issued a statement saying the new site has nothing to do with the original BTCe site. But the exchange is identical to the original, and all accounts were transferred over to the new domain name. Some funds were seized by the Feds when BTCe was shut down, but the 60% the exchange were holding in cold storage were put back onto the exchange and account holders were able to withdraw.
WOW!
That was unexpected. They also issued IOUs for the remaining money, which are now trading at about 50% of the original value!
These people could have just taken the money and ran, but it's a testament to the reputation system that instead they relaunched and continued to service their customers.
I chat with Maxim Lott, Senior Producer of "Stossel on Reason", about all of this in my latest video!
This is a "Ninjitshu" mode on! Wooooow
lolol
nothing is suprising me what is considering usa policy and banks busines
wooow,,,,I was scared that all users money is gone,,,but fortunately BTCe or WEX now has made cryptocuurency looks better,,and by this they will gain many more customers,.
anyways it is expected that cryptos prices will have a big fall in price from 29th Sep to 1st Oct,,,then after that there will be a big rias for now all the nonechinese exchanges have a very low volume in daily trading ,,,,but after china quit the game and kick down exchanges,,,the crypto will see some more markets and chinese money will go back to the cryprocurrency again throufgh other big exchnges outside of china especially big traders and investors this time you will making 2x to 3x of your investment,,,,especially on LTC ,,ether and btc as well
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